Brexit - The Aftermath.
- Thoughts?
- Regrets?
- Another ET Brexit thread? Why?
Brexit - The aftermath
- Thread starter OptionGuru
- Start date
I have only one regret: I should've shortened BCS yesterday.
PCLN took a pounding...... I regret not buying the weekly PCLN puts and posting the trade live to ET - I would be an ET hero after such a trade.
I bought some this morning.........
only regret is i didn't hold onto my gold futures long enough, but also happy i wasn't stupid enough to be long equities and oil into the decision
I underestimated the power of news until I saw the incredible price fall in GBP and EUR and price rise in Gold ... learned something
"Brexit - The Aftermath.
So, thinking Bremain was going to happen as most people believed, I said to myself "what the heck, let's apply EMH (efficient market hypothesis) here" and I shorted the auto part stock while it was still up about 4.5% before the market closed on Thursday. The only regret I have is I intended to short much larger quantity. With Brexit, the stock value dropped about 4.5% and as much as 5.8% (just about the same value the previous day). Even though I might've cashed on the profit I missed earlier, I didn't close my position. I am hoping it would lose a lot more than that because of the low volume, low volatility and resistance level. I kept shorting and buying back the stock during the day in order to keep or push down the price a little further every time it was moving upward which seemed like working. If the support level doesn't change for the worse on Monday, I will probably get out of it because I have been watching some stocks for so long and want to buy but the price was never right. Now, I'd like to create a long position in some stocks but a little at a time since one really can't tell when the stock prices hit the dip at a certain period of time.
- Thoughts?
- Regrets?
- Another ET Brexit thread? Why?"
So, thinking Bremain was going to happen as most people believed, I said to myself "what the heck, let's apply EMH (efficient market hypothesis) here" and I shorted the auto part stock while it was still up about 4.5% before the market closed on Thursday. The only regret I have is I intended to short much larger quantity. With Brexit, the stock value dropped about 4.5% and as much as 5.8% (just about the same value the previous day). Even though I might've cashed on the profit I missed earlier, I didn't close my position. I am hoping it would lose a lot more than that because of the low volume, low volatility and resistance level. I kept shorting and buying back the stock during the day in order to keep or push down the price a little further every time it was moving upward which seemed like working. If the support level doesn't change for the worse on Monday, I will probably get out of it because I have been watching some stocks for so long and want to buy but the price was never right. Now, I'd like to create a long position in some stocks but a little at a time since one really can't tell when the stock prices hit the dip at a certain period of time.
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I really thought - based on the lopsided odds from the brokers - that REMAIN was all but certain. That notwithstanding, you never know how these things will turn out.
I had some pretty wide butterfly spreads (expiring yesterday) and had cashed out the long half at 90% and was fully prepared to pay 100% of the short side with a REMAIN win. I don't have to tell you what happened Thursday night and Friday morning.
I probably shouldn't have done it, but I threw on another fly Friday morning around 2030 (expiring at the end of the day) thinking we'd probably wind up around there at the end of the day. I cashed out 90% of the long side as we breached 2060+ and prepared for a decent loss by day's end. Damned if we didn't turn and the whole thing came back to me AGAIN. I took it off mid afternoon having doubled my outlay from the morning...could've had a triple, but you know what they say about pigs.
It felt good to have a couple of nice winners in the face of one of these big moving events. I have certainly been on the losing side enough times in my career.
I had some pretty wide butterfly spreads (expiring yesterday) and had cashed out the long half at 90% and was fully prepared to pay 100% of the short side with a REMAIN win. I don't have to tell you what happened Thursday night and Friday morning.
I probably shouldn't have done it, but I threw on another fly Friday morning around 2030 (expiring at the end of the day) thinking we'd probably wind up around there at the end of the day. I cashed out 90% of the long side as we breached 2060+ and prepared for a decent loss by day's end. Damned if we didn't turn and the whole thing came back to me AGAIN. I took it off mid afternoon having doubled my outlay from the morning...could've had a triple, but you know what they say about pigs.
It felt good to have a couple of nice winners in the face of one of these big moving events. I have certainly been on the losing side enough times in my career.
I love the volatility hence the opportunity but I don't get oil...why the move of oil? I was flat and now have a small equity position and keep nibbling.